Zurcher Kantonalbank Zurich Cantonalbank Reduces Holdings in TPI Composites Inc (TPIC)
Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in TPI Composites Inc (NASDAQ:TPIC) by 5.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,762 shares of the industrial products company’s stock after selling 2,089 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.11% of TPI Composites worth $1,104,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Sei Investments Co. raised its holdings in TPI Composites by 40.3% during the 1st quarter. Sei Investments Co. now owns 7,992 shares of the industrial products company’s stock worth $179,000 after buying an additional 2,294 shares during the period. Koch Industries Inc. acquired a new stake in TPI Composites during the 1st quarter worth about $215,000. Rhumbline Advisers acquired a new stake in TPI Composites during the 1st quarter worth about $222,000. Hartford Investment Management Co. acquired a new stake in TPI Composites during the 2nd quarter worth about $260,000. Finally, Acadian Asset Management LLC acquired a new stake in TPI Composites during the 2nd quarter worth about $286,000. Hedge funds and other institutional investors own 50.11% of the company’s stock.
Several research firms have issued reports on TPIC. JMP Securities boosted their price objective on TPI Composites from $36.00 to $38.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 8th. TheStreet downgraded TPI Composites from a “b-” rating to a “c” rating in a report on Wednesday. Canaccord Genuity boosted their price objective on TPI Composites from $26.00 to $35.50 and gave the stock a “buy” rating in a report on Wednesday, July 11th. Roth Capital set a $37.00 price objective on TPI Composites and gave the stock a “buy” rating in a report on Tuesday, July 10th. Finally, Craig Hallum boosted their price objective on TPI Composites from $33.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, July 26th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $33.61.
Shares of TPIC opened at $28.82 on Friday. The stock has a market capitalization of $971.12 million, a PE ratio of 23.06 and a beta of -0.70. TPI Composites Inc has a fifty-two week low of $16.35 and a fifty-two week high of $32.22. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.63 and a current ratio of 1.65.
TPI Composites (NASDAQ:TPIC) last issued its earnings results on Tuesday, August 7th. The industrial products company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.09). The business had revenue of $230.61 million during the quarter, compared to analyst estimates of $240.29 million. TPI Composites had a net margin of 3.17% and a return on equity of 17.01%. sell-side analysts expect that TPI Composites Inc will post 0.25 EPS for the current fiscal year.
TPI Composites Profile
TPI Composites, Inc manufactures and sells composite wind blades, and related precision molding and assembly systems to original equipment manufacturers. The company also provides composite solutions for the transportation industry. It operates in the United States, Asia, Mexico, Europe, the Middle East, and Africa.
Featured Story: Diversification in Your Portfolio
Want to see what other hedge funds are holding TPIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TPI Composites Inc (NASDAQ:TPIC).
Receive News & Ratings for TPI Composites Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TPI Composites and related companies with MarketBeat.com's FREE daily email newsletter.